Resources for real-life situations.

“What College Graduates Need to Know about Insurance”

Congratulations! Graduating college is a significant milestone in your life. One that will bring on many new and exciting life changes involving work, money, living space and possessions.

As you seek out new ventures, one thing you’ll need is insurance. And one thing you’ll want is good insurance, reasonably priced from a knowledgeable advisor.

There are four types of insurance you’ll want to consider after college graduation:

Auto Insurance

In college, you were probably on your parent’s auto policy. That’s because their policy covered resident relatives. However, when you move out and/or get title to a vehicle, you’re no longer covered on their auto policy.

Another reality is that your auto insurance needs are different than your parents. For example, they might be financially able to have a large deductible on their policy. But that might not be best for you right now.

Now is the time to call Insurance Brokers of MN. Because we represent a wide variety of insurance companies, you’ll have many options to choose from.

Also, auto insurers offer discounts. You can bet we’ll hunt every one of them down for you.

Options and Discounts. Insurance Brokers of MN will present all of them to you. We’ll make sure you get the best auto policy coverage value for the least amount of money.

Renter’s Insurance

Picture this. You finally get your own place. You move out of the family home (Not just for the school year. This time it’s permanent). You can’t believe how much stuff you’ve accumulated:

(You might not think they’re worth much but they are – especially when you think of how much it would cost to replace them.)

A couple of friends help you move to your new garden apartment. Great!

You’re moved in, you’ve managed to save a couple of bucks and it’s two weeks before you start work. So, you take a short trip with some friends to Cancun. You have a blast and return home on a Saturday night.

You’re still smiling at the memories of the trip as you walk up the stairs. Maybe you’re even chuckling as you put the key in the door and open it.

Then you stop laughing. You stop smiling. You mouth goes ajar and you can’t believe your eyes.

Your place has been trashed. Everything you had is gone – your laptop, DVD player, game system. Everything.

That’s a bad enough feeling. And it happens. But eventually you realize all of your things are replaceable. Or are they?

Did you have renter’s insurance?

Renters Insurance covers your belongings (clothing, books, CDs, furniture – everything) not only in your apartment but in your locked car and anywhere else you take them. It protects your things against fire and other occurrences beyond your control – including vandalism and theft.

If you thought about it at all, you may have thought insurance was the responsibility of the landlord. It’s not. The landlord’s policy covers the building only. It’s a renter’s policy that will help pay for the replacement of all your personal items.

It will also pay for an attorney and protect you in case someone gets injured while in your apartment and/or you get sued if damage caused by you impacts neighboring apartments.

Insurance Brokers of MN will give you peace of mind about your belongings and your liability. We’ll help you sort it all out. As with auto insurance, we’re big on discounts. We’ll make sure you get them.

Health Insurance

Let’s say before starting your job you decide to take a month and backpack across Europe. You’re in Paris when you begin feeling a pain in the lower right side of your abdomen that will not go away with an Alka Seltzer.

The pain gets worse. You finally get medical help. You discover you have appendicitis and need your appendix removed.

Wait a minute.

Do you even have health insurance?

Remember, as a full time student you can usually stay on your parent’s health coverage until somewhere between the ages of 22 to 25. So, check on what age you’re no longer covered on their policy.

With the new health care bill passed earlier this year 2010, new federal regulation is that children can stay on their parents policy until age 26. The deadline for plans to make that change is Sept this year so we probably want to update this.

However, after you leave school and your home, you’re responsible for insuring your health. Being without health insurance makes you vulnerable. Very vulnerable.

Discuss this important life decision with us. We can help you find the best health plan, with the best value for this time in your life. We’re experts in the all of the different options in the ever changing world of health care.

One Insurance Source

When you make the transition from college to “real-life,” everything changes.

Now you’re responsible for protecting yourself and your family….

Your choices are difficult and you need an expert on your side. Don’t fool yourself and pretend you know insurance. It can be complicated business. Plus, your needs can constantly change as your life changes.

Work with someone who specializes in College Graduates. Contact us at Insurance Brokers of MN today.

The saddest words this agent ever hears are “I knew I should have done something.” All you need to do is one simple thing… contact us.

We’re your one stop insurance shop. We’ll do all the work for you. Complete the protection analysis form today, or call us now 1-877-323-3314.

You’ve taken a new job across the country! Congratulations!

You’ll be moving to a new home in the great state of Minnesota. To save money on the move, you decide to rent a truck from a well known rental company. As you’re on your way to your new home, the car in front of you stops suddenly. You rear end it causing considerable damage.

Are you covered?

Moving Truck Rental Insurance

If you initialed and signed yes to the insurance questions on the rental form then you’re covered. That’s because you purchased optional damage waivers and supplemental insurance from the truck rental company.

It’s good to check with your insurance agent, though. Some auto policies do cover a rental truck. And your renters or homeowners will probably cover your belongings while in transit.

Again, check with your agent prior to the move to make sure you’re covered; especially since you’re driving a vehicle you’re probably unfamiliar with.

You don’t want to add to the stress of moving and starting a new job by worrying about a truck accident. So, in most cases you’re probably best off buying the rental company’s insurance. It’s inexpensive and it’s reassuring to know that you’re definitely covered.

Contact Insurance Brokers of MN for a thorough review of this situation. We will give you peace of mind about your insurance coverage.

Now That You’re Moved In, What About Insurance?

When you move to another state your auto and homeowner’s and insurance will change. Insurance companies apply different rates to different states. Plus state laws may differ.

Auto Insurance

You can contact your current agent for a referral in your new state or find an agent on your own. But most likely, you’ll need to get another agent (unless your agent is licensed in your new state).

If you move within your state, report your change of address to your agent. Since where you live impacts the rates, it may make a difference in your insurance costs.

Homeowners Insurance

If you own a home, you’ll have to keep your insurance in force until the house changes ownership.

For your new home you’ll have to supply proof of insurance prior to purchase. Even if you rent, you may need to provide proof of renters insurance as part of the lease.

You might want to consider getting umbrella insurance as another layer of coverage in the event you’re a victim of our litigious society. The umbrella coverage kicks in after your homeowner and or auto insurance policy liability limit is reached.

If your new home is part of an association, you might want to consider loss assessment coverage. This coverage pays for a loss the association might assess its homeowners for. (For example, if the association gets sued and the judgment is greater than the association’s policy limits, they might ask the homeowners to kick in that overage.)

Finally, if you store belongings in a commercial storage unit, check your homeowners or renter’s insurance to see if they’re covered. If not, you may have to purchase a storage unit policy.

One Insurance Source

Talk with Insurance Brokers of MN if you’re moving to the Minnesota area. We’ll make sure you get the right auto and homeowner’s coverage for your new surroundings. As a leading independent agent, we have many highly rated insurance companies to choose from.

We will be able to obtain the best value and insurance coverage for your situation by making sure you receive all of your allowed premium discounts,

Remodeling?

Oh, it’ll look so great once it’s done! Opened-up walls! Light, honey-colored bamboo floors! Rustic slate tile! Shiny granite counter tops! Bit by bit, your dream home is coming together.

If only it could happen like it does on TV, where old, messy rooms are transformed into welcoming, sparkling spaces in not more than an hour, all without the dirt, the dust, the delays, and the inconveniences.

Remodeling can be both a passion and a chore. But usually, the end result is worth it. If you do it right, that is.

Your insurance policy is usually not part of the to-do list when it comes to planning a home remodel, and rarely finds its way into the file folder with paint swatches, contractor bids, or hardware store shopping lists. But it pays to start your home improvement project on a solid foundation. Call your team at Insurance Brokers of MN and let us “hammer out” a protection plan that can bear some weight – from the ‘Before’ to the ‘After’.

Hiring a contractor? Check his insurance

Finally, you are going for it… the new gourmet kitchen, with a gas range (replacing the electric stove), double oven, and new custom cabinetry. You had envisioned it from the day you bought the house. It’ll be quite a project, though. A couple of months, at least. But you want it done right, and more importantly, as quickly and smoothly as possible. So you decide that hiring a professional is the most reliable and hassle-free way to do it.

Congratulations! A home remodel is an exciting undertaking and a professional contractor can definitely help. But what does this have to do with your insurance?

Quite a lot, actually. When hiring a contractor, it is very important that you check his insurance, and how it extends to employees or potential sub-contractors. If ‘your’ contractor doesn’t have adequate insurance protection in place and one of the workers gets injured on the job (your house!), they might end up suing you and you might be held responsible.

Protect yourself. Only hire a licensed and bonded contractor. And don’t take his word…ask to see the insurance policy so you can make sure that it is in force and that the limits are adequate. (It is absolutely OK to ask for an insurance certificate from your contractor. The contractor and his/her insurance agent should happily provide it. The problem is that not many people are aware of this right to see their contractor’s policy, and therefore don’t ask for it.) You should also confirm your contractor’s licensing status on the Minnesota State Labor & Industries website.

There are three major parts of a contractor’s insurance policy:

Are you your own General Contractor? The risk may be greater than the savings!

Adding the second story to your house will make a huge difference! You can move the kids’ bedrooms upstairs; add a Jack-and-Jill bathroom, and a TV room. That will open the first floor for an extended Master bedroom, and a Master Bath with the long-awaited Jacuzzi and a walk-in closet.

From what you’ve heard, this will increase the value of the house quite a bit, not to mention add comfort for you and your family. To save a little money, you figure, you can act as the General Contractor. You’d never have to touch a hammer; all you’d do is organize and orchestrate, order supplies… and take care of the paperwork, basically. Sounds feasible, right?

Unfortunately, it’s not quite as easy as that. If you function as the General Contractor and hire sub-contractors to work in or on your home, you may be held responsible in case of an accident or an injury to a worker or to a third party (for example, a neighbor kid walks by your house just as one of the guys working on your roof accidentally drops his hammer and it hits the child).

Your homeowner’s policy may provide some liability coverage, but even if so, it may not be enough to cover your assets if you are sued for liability and medical costs.

Worker’s comp is not always required by law but if you are in the situation of hiring sub-contractors to work in or on your home and property, you may want to purchase Worker’s Comp insurance for your own protection.

Since this is a very complicated topic with many variables, you should speak with your agent before hiring anybody.

All in all, you might be better off both financially and risk-wise if you hire a licensed and bonded contractor who has the insurance and the experience. It may save you a lot of hassle and worries during an already stressful time.

D-I-Y (Do-It-Yourself) project? Some are covered, some are not. (But not because you did it yourself!)

You are painting this weekend! It’s a long-postponed project, but finally, you are tackling it.

Sunday night, you are exhausted. One coat of primer and two coats of paint, and you still see the old, darker color shimmer through. Push on, add one more coat. Might as well do it right. When you’re done, you hurry to pick everything up. Rollers, brushes, drop cloths? In the trash bag they go. Tie it up and plop it in the garage. Deal with it tomorrow. Or next weekend.

But you forget that crumpled up, paint-stained drop cloths are highly combustible…

If this caused a fire, would you be covered by your homeowner’s insurance?

In this situation, yes, there would be coverage. A fire loss that happens suddenly and accidentally, even if caused (as in this example) by negligence, is covered by your homeowner’s policy.

Here’s another scenario…

It’s going down as the summer of the bathroom remodel. You and your spouse decided to do it yourselves… both of you like doing this kind of work. Tearing out the old. Putting in the new. Taking care of the house. So you tackled the new bathroom together, laid the river-rock mural in the new walk-in shower, installed radiant heat under the new slate floor tile, and switched the location of toilet and vanity. You put a lot of thought and effort into this, got all your permits, and cleanly re-routed, installed and sealed the new copper pipes. Up to code!

Now, 3 months after the finishing brush stroke, something’s leaking!

At least, that’s what you suspect. When you come home at night, a puddle has collected between the toilet and the vanity. You mop it up, only to find it there again the next night. And you hate to admit it, but the strip of wall right above has gotten darker. And if you look closely (which you opt not to do), you can see fine hairline cracks.

You think of your homeowner’s insurance. Would your D-I-Y project be covered at all?

Well. Generally, your finished D-I-Y home improvement project would be covered for all the common perils insured on a homeowner’s policy, whether you do the work or a contractor does the work. But the perils covered on a homeowner’s policy have to be sudden and accidental occurrences.

And that’s the problem in this example. The answer here is: There might not be coverage. What happened here is a mistake, a construction defect. There are workmanship exclusions on a homeowner’s policy that apply whether the work was done by a contractor or the property owner. If the damage in this example was caused by faulty workmanship, not by a sudden and accidental occurrence, the loss would not be covered by your homeowner’s policy.

However, had you hired a contractor, you could sue him for repairs and or hold him responsible to fix the damage.

A side note: Water damage that happens over time (like a slow leak that causes dry rot) is generally excluded from coverage on your homeowner’s policy. So, it is critical to address any suspicious leaks immediately. They don’t go away on their own. They only become bigger (and possibly excluded) losses.

Major Remodel? Insure the “After” before it’s too late
That second story you were talking about? Yup. It’s done. Two more bedrooms, a bathroom, and a family room, just like you had planned. About an extra 1,000 square feet. Yeah, it’s such a relief. You can’t even imagine going back to living on one floor with the two boys, the cat, and the dog. None of you remember how you did it. But luckily, you don’t have to!

If you don’t want to remember the “Before”, be sure to not leave your homeowners insurance policy stuck in the past! If you plan a major remodel like an addition, a new deck, or a significant upgrade, be sure to call your trusty insurance agents at Insurance Brokers of MN to inform us about the scale of the remodel you are planning.

The replacement value of your home may now be significantly greater than it was before, and your homeowner’s policy limits might not be enough to cover your house if you have a total loss. Also, if you have an extended replacement coverage endorsement (very important!) your policy contract requires that you inform your insurance company of any significant change in value (usually defined as improvements over $5,000.) Finally, if you purchased new furniture or electronics, be sure to adjust the personal property limits on your homeowners insurance policy.

However, don’t wait until all the work is done. During the construction phase, you may have a significant amount (and dollar value) of supplies stored on your property. If these building materials are stolen or destroyed before your remodel is finished, there may be inadequate coverage.

So, don’t let your excitement be dampened by unforeseen incidences. Give us a call before the ‘After’, and get the peace of mind you deserve.

How certain remodels can save you money on your homeowners insurance
Whew! That was a major project… updating all the electrical in your turn-of-the-century craftsman. No fun…but it sure feels good that it’s done now. For all you know, the place could have gone up in flames years ago, due to the outdated wiring. So this gives you some peace of mind.

If you did a major remodel that included updating certain systems such as…

…give us a call 1-877-323-3314 and share the news!

You may qualify for a new discount on your homeowners insurance policy!

Insurance For and After the “Big Day”

Congratulations on your engagement! What a fabulous time in your life. We hope you cherish every moment.

Your Wedding Day should be all about you and your new life together. So, to help you to avoid any unnecessary concerns, here are some things to consider…

If your wedding plans include a celebration at a restaurant, banquet hall or similar venue, it’s important to check their insurance coverage. You will have a lot of guests and possibly some support staff on hand, so make sure they carry an adequate amount of liability insurance.

If you get married in your home, on the other hand, let your qualified Insurance Brokers of MN representative check your homeowner’s policy for what will or won’t be covered.

Our experts will also walk you through what’s known as Special Event Coverage. You may be interested in these honeymoon and extra gift coverages.

We’ll make sure you have a happy and worry free (regarding insurance, anyway) day!

Auto Insurance for a Married Couple

When you awaken as a married couple, you’ll feel good but maybe not all that different. But in the minds of your insurance company you’re seen as new and improved people.

Why?

Insurance company data shows married people are more responsible (Although insurers don’t exactly know why).

As a result, you’ll begin to experience the world of insurance discounts. In fact, you could see as much as a 25% drop in your auto insurance bill when you marry and combine your vehicles onto one policy.

And that’s not all! You might be able to snag multi-car, garaging, multi-policy and other discounts as well.

So, contact Insurance Brokers of MN. We’ll help you not only get the best auto insurance coverage, we’ll make sure you get the absolute best value you have coming to you and your spouse.

Renters Insurance & Homeowners Insurance for the Newly Married
While marital status is generally not used for pricing a renter’s policy, the value of your possessions is. And that value might have just increased. Protect it!

Consider a renter’s policy from a reputable insurer. The following will be protected when you do:

All of your possessions up to the policy limit (subject to a deductible)
Your liability in case your actions cause injury to someone else or their property
A homeowner’s policy covers all of the above plus the home itself.

Valuables Coverage

Whether you’re a renter or homeowner, you just got married so you probably received some gifts!

Did you get a fine china set, crystal or some precious gems for wedding presents? Did your aunt give you an antique on your big day? How about your engagement ring and wedding bands (The average wedding ring is $6,000)?

If you have a lot of valuable possessions, you should consider valuables coverage. This will broaden your protection. Plus, there is no deductible.

Consult with the experts at Insurance Brokers of MN to learn how to value your special possessions. We can also suggest when and how to add this coverage to your policy.

In fact, Insurance Brokers of MN knows how to tailor your homeowner’s or renter’s coverage to all aspects of your new situation. We can discuss available discounts for things like smoke detectors, burglar alarms and multiple policies.

Protect Yourself with Umbrella Insurance

Newly married or not, in this litigious society you can still be held liable for a large settlement in a wide variety of unexpected situations. This could put the financial footing of your marriage at risk before you even get started.

An umbrella policy adds an extra layer of protection over and above your homeowner’s and auto policy.

Discuss this with your agent at Insurance Brokers of MN and we’ll explain how umbrella coverage works. We’ll help you decide if it’s right for you!

Life Insurance

Researching your new life insurance needs with Insurance Brokers of MN is very important at this phase in your life. We can help you sort out all of the options (which are many) and get you in the best life insurance situation for you, your new spouse and your family.

Six Factors – One Insurance Source

Insurance is an important part of your new life. So, you want Insurance Brokers of MN because we can provide the following benefits:

Call 1-877-323-3314 today for your newly married insurance needs. We’ll help protect you for life!

Congratulations to you and your baby! You’re euphoric!

And when you finally get over the rush, a sense of responsibility settles in. A baby is a big responsibility. There’s nothing bigger.

When you begin thinking about your insurance needs now that you have a little one, you’ll want to consider Homeowners Insurance and Life Insurance.

Homeowners Insurance for a Family

Shelter is a basic human need. You have to maintain that shelter for your baby for at least the next 18 to 22 years. That means you need a home through all foreseeable and especially unforeseeable life events.

A good homeowner’s policy tailored for you by an insurance professional will help you achieve continuous shelter.

A homeowners Insurance policy will protect:

Peril means cause of loss. A homeowners insurance policy will protect you and cover your structure and belongings from damage resulting from 11 perils:

(Note: Flood and earthquake coverage is usually available on separate policies)

Homeowner policies will also pay for reasonable living expenses if your home is deemed uninhabitable. This will continue your shelter if you’re struck by a peril.

Insurance Brokers of MN will make sure you have all you need to maintain shelter for your family.

Life Insurance for Parents

What will your family do if something happens to you and your earning power is gone? That question strikes at the core of a family unit.

And that’s the question you’ll answer when you consult with a life insurance specialist. In fact, the purpose of life insurance is to financially provide for the people who are financially dependent on you after you’re gone.

Insurance Brokers of MN can show you the best available life insurance options for parents and how to add beneficiaries to the policy. We want to help you ensure that your family will always be financially provided for in the event of an unfortunate loss.

Life Insurance for Your Baby

It may surprise you to learn that life insurance is primarily designed for you and your spouse, to ensure that your dependents are always provided for. Because of this, you probably don’t need to buy life insurance for your baby. An appropriate life insurance policy for you and your spouse will make sure that your baby’s needs are met.

We want to help you protect your baby in the best way possible. Contact Insurance Brokers of MN today at 1-877-323-3314 and we will provide you with all of the latest life and homeowner insurance options for your new family!

Just got pre-approved for a home loan? Congratulations! That’s a huge step in life – and it takes you so much closer to living the American Dream! Finding and buying a new home is as exciting as it is stressful: The purchase of a home is a huge undertaking that requires a good deal of forethought and research. But once the fun part of finding your dream home begins, you’ll find yourself spending evenings and weekends driving about town with your real-estate agent, and wandering through what might become your home. And at night, you dream about paint colors and furniture arrangements…

When you find it, you know it. And then everything happens quite fast: Your agent might help you sign the paperwork, you put in an offer, and then you wait, chewing nails, to hear back whether it was accepted. “Hurry-up and Wait” is probably a good way to describe it.

Insurance may not be your first thought when you start thinking about buying a house. But don’t let it be your last! Call your team at Insurance Brokers of MN early-on to avoid unpleasant surprises and save money. We can help you make this process as smooth and stress-free as possible. Simply follow this short checklist of house-buying tips that you should be aware of, from an insurance point of view:

Choose your own insurance

Your offer was accepted and now the real paperwork begins. Who would have thought that would be so many documents to produce, papers to sign, and questions to answer? When your broker assures you that she can take care of the rest, it’s easy to agree.

It’s a couple of months after you’re moved in that you have the peace of mind to take a closer look at the papers…and discover that your homeowner’s insurance rates are high. Very high! To say the least.

Just like property taxes have become commonly rolled into an escrow account and made part of a mortgage payment, so have homeowner’s insurance payments. Every lender requires that you have homeowner’s insurance in place. But that doesn’t mean that your mortgage company has to determine your insurance!

We can help you find the right protection at the best rate for your new home. All you have to do is get us involved early. Follow this short checklist, and with your permission, we can process everything so much faster when the closing date comes. Keep in mind that deadlines are always tight in the mortgage business.

How far is the nearest fire station?

You’ve always dreamed about a house in the woods. Kind of out there, away from all the hustle and bustle. And you found it, the perfect home, on a perfect 5-acre lot, not too far away…but far enough.

However, as you receive your homeowners insurance statement, you swallow hard. The house isn’t that big…actually, it’s about the same square footage as your previous house in the suburbs. So why did the rate increase?

The distance of the nearest fire station has an impact on your homeowner’s insurance rates. The further away the nearest fire station is located, the higher the rate. This makes sense, in a way: If, heaven forbid, you ever had a fire, every second counts. With no fire department nearby, the risk for a major or total loss of your home is much higher. And insurance companies charge for higher risk.

Just a piece of information to be aware of as you search for your dream home. For detailed rate quotes and more information about potential insurance rates for a house you’re looking at, just give us a call. We are here for you!

Don’t get bounced by a trampoline (or pool).

Now this house is really great! Not only does it come with a big yard and a swing set, but it also comes with a trampoline! Or maybe it’s a pool! The kids would love it! Unfortunately, the backyard isn’t fenced, but…well…a fence could be added later, plus the row of trees provides some privacy.

This doesn’t sound bad at all, does it?

Unfortunately, from an insurance standpoint, it does. There are an estimated 3 million trampolines in US backyards, and injuries caused by trampolines are steadily on the rise, averaging over 240,000 medically treated injuries every year. Over 180,000 involve children aged 14 and younger. Severe spinal cord and head injuries abound.

That’s why it is very difficult to find insurance for a trampoline. If the trampoline is located on your property and somebody – invited or not – gets injured while using it, you will be held responsible for the damages. That may mean many years of medical payments, or worse.

A trampoline is considered an “attractive nuisance”. Most insurance carriers have recognized the dangerous risk exposure that comes with a trampoline. Some carriers will not write a homeowner’s insurance policy for a home with a trampoline. Others may write it only if the trampoline is inside a 6-foot fenced area with a self-locking gate. Swimming pools are also considered “attractive nuisances” and are treated similarly.

Part of a Homeowner’s Association? Check your association’s Master policy.
Living in a homeowner’s association can have its pros and its cons. But fact is that more and more condo, town-home, and other communities are bound together by a Homeowner’s Association. For each homeowner, that usually means an annual fee.

What does the homeowner’s association have to do with your insurance? Quite a bit, actually: From an insurance standpoint, if anybody got insured on the association’s joint property, such as, for example, a walkway or a playground, the association would be held liable. That’s why each homeowner’s association has a Master policy in place. The question is: What does the Master policy cover?

Some Master policies don’t provide high enough protection, so if a loss occurs that exceeds the policy limits, each homeowner in the association will share an equal part in the liability. In that case, you may be required to pay a share of hundreds or even thousands of dollars.

If you don’t have the right protection on your homeowner’s insurance, that money would need to come out of your pocket. Luckily, your homeowner’s insurance can be adjusted to provide you with adequate protection.

We can help you with that (and we can also help in checking your association’s Master policy). Give us a call 1-877-323-3314.

Located in a flood zone? You might need flood insurance.

Isn’t the sound of water one of the most soothing? Whether it’s rainwater drumming on your window, waves crashing on the beach, or a stream babbling away…Not to mention the view! To look out the window and see these sights is priceless.

A house near a river or the beach is a dream for many. But if that dream home is located in a flood zone, your lender may require you to have flood insurance in addition to your standard homeowner’s insurance policy.

Get a quote from us. We specialize in all your personal insurance needs and can help you with your flood insurance. Because sometimes, when it rains, it pours.

(PS: That said, with the weather patterns in recent years, Flood Insurance might be a smart idea, even if you live nowhere near a flood zone. Because certain water-related losses are excluded on a standard homeowner’s policy. Talk to us to learn more.)

Aaaaaah. Vacation. White beach. Blue water. Colorful drinks with little paper umbrellas. New sights, new sounds, new smells…Maybe you’ll rent a car and explore. Maybe you won’t.

Of course, that might not be you. You might be thinking…Yeah! Vacation! Slopes! Powder! Apres-Ski! Maybe try dog-sledding? Frozen-Waterfall-Climbing?

Whether you’re heading North or South, East or West, and whether you prefer action-packed or easy-going, it’s easy to forget that unpleasant things can still happen on vacation. Even though you are trying to get away from it all.

Invest an hour in some preparation to set yourself up for true peace of mind. And know that if something happens, you’ll be protected.

Here are a few thoughts to consider as you plan your trip. If you have any questions, please don’t hesitate to give us a call.

Rental Car? We recommend: Buy the insurance

There you are, just off the plane, at the Rental Car counter. From the plane, you’ve already seen the incredible color of the water… turquoise-blue, and crystal clear. Crowned by little tufts of foam. Framed by white beaches. As you walk to baggage-claim, you peek out the window and see palm trees swaying in a gentle breeze. At the airport, even! Palm trees! The only thing between you and two weeks of careless happiness is one more signature on one more sheet of paper. And off the grid you’ll be! You can’t wait.

Then, the question comes: “Would you like to purchase the insurance for your rental car?” Well, no. Or yes? But doesn’t your credit card provide coverage for rental cars? Plus you have Auto Insurance. At home, that is. But from what you’ve heard, they are all driving fast and furious here. So it might be smart to buy extra insurance…so, yes. But you don’t want to start your vacation spending a couple hundred dollars on an unaccounted-for expense. Ah, shucks! Now what?

Start your vacation off right and don’t let surprise questions catch you off-guard at your destination. When it comes to rental-car insurance, our answer and easy and straight-forward: Buy the insurance.

You have the option to purchase a “Loss Damage Waiver” (LDW) from the rental car company. If purchased, this waiver relieves you from financial liability for the loss of, or damage to the rental car and the parts and accessories that come with it.

We recommend buying the LDW for a variety of reasons:

If you cause damage to the rental car, the rental car company will likely require immediate reimbursement for the repairs. They won’t wait until a claim is submitted and processed. That means, they will charge (and possibly max out) your credit card to get the car fixed as quickly as possible. They won’t do that if you purchase the LDW.

Not only that: A rental car company only makes money when they rent out their cars. If the car is “on hold” because it is in a repair shop due to the damage you caused, the rental car company may also charge you for “loss of use”. This is also covered if you buy the LDW.

If you don’t have collision / comprehensive coverage on your personal auto policy, there also won’t be collision / comprehensive coverage available for the rental car. That means, you will be responsible if you don’t buy the rental company’s insurance. So – again. Buy the LDW.

If you do have collision / comprehensive coverage on your personal auto insurance, your policy will extend, but you still have to pay the deductible. Also, you may face a rate increase at your next policy renewal. If you buy the LDW, there is no deductible, and no potential rate increase for your personal auto policy.

Keep in mind: Even if you buy the LDW, there are likely to be some exclusions, such as only listed drivers are covered, you are not covered if you drive while intoxicated, or may not be covered on certain sections of road or off-road (such as the infamous road to Hana on Maui So, take a moment to read the fine print.

As to your credit card: Some credit cards will, indeed, extend to provide coverage for a rental car. But contracts vary from card to card, and some cards may only provide secondary or excess coverage, which requires you to file a claim with your auto insurance first. Call your credit card company to confirm coverage before your rely on them

Also, please keep in mind that your personal auto insurance will only extend protection in the US and Canada. If you travel abroad to Europe, Asia or South America and plan to rent a car, it is best to purchase maximum liability limits through the rental company’s coverage.

How your homeowner’s or renter’s insurance can cover you even away from home
Done! Everything is packed! It was sure a chore, but definitely worth the trouble. You wanted to be sure to not miss a thing. After all, it’s the trip you’ve been saving up for a year: Two weeks at the sports resort, where you can ski on the glacier, golf, and lounge by the pool – all in one day! And you get two weeks of this fun!

So of course, you packed your skis, your snowboard, the golf clubs, and your camera gear. And two weeks worth of clothes. Needless to say, everything is maxed out.

As you are thinking about what you might be forgetting, the thought that something could get lost or stolen during your trip doesn’t even cross your mind.

But… what if? This is exactly where a homeowner’s or renter’s policy could come in handy.

A homeowner’s or renter’s insurance policy doesn’t only protect you and your ‘stuff’ while you’re at home. It also protects your belongings away from home. For example, if your ski gear was stolen right from the porch of the lodge while you were inside? It’d be covered.

If your camera slipped out of the bag and tumbled down 75 feet of rocky slope as you climb up that boulder? It’d be covered.

Even the stuff that you have in your car (on a road trip, or in everyday life) is covered by a homeowner’s or renter’s policy. And NOT by your auto policy, as you might expect. (We’d like to take this opportunity to remind you: Please don’t leave any valuable belongings in your car, and please always lock your car doors.)

But there’s more. A homeowner’s or renter’s policy doesn’t only cover items. It also provides liability protection. And this is where it really counts! Because, if you accidentally damaged somebody else’s property or, worse, hurt somebody, you could be held liable.

And if you are held liable for medical expenses or loss of income, you could be in debt for the rest of your life.

It can happen quite easily…

Imagine, you decide to give the black diamond a try. A quarter of the way down, you finally admit it to yourself that you are in over your head. But now, there aren’t very many options. You’ve got to get down.

And sure enough you fall, slide down on your back, and rumble straight into a woman who is waiting at the edge of the slope for her husband. She falls, too, and breaks her wrist. Not only that. She’s a surgeon, and depends on her wrist and a steady hand to do her job…a very well-paid job, that she won’t be able to do for at least a while.

A homeowner’s or renter’s insurance policy can help you out. Please give us a call 1-877-323-3314 for more information.

Going abroad? Your health insurance might not come along.

Aw, that hurts! You haven’t broken a bone since you were 11 years old and fell off your BMX bike. At least that was worth it, because at the time you actually made it over that jump and really got some air, and everybody cheered – and then you crashed. But the cast was kind of cool, with everybody’s graffiti on it.

Right now, it’s not cool. Nobody’s cheering. There isn’t even a bump on the slope. As far as you can tell, you fell right over your own two legs. Which makes it absolutely not cool. Downright embarrassing, rather. And it really hurts, too!

The fact that you aren’t skiing at home, but in the Swiss Alps doesn’t help. Oh my, you already see the ski paramedics coming toward you in their bright red overalls, with the carrier between them. You’re not supposed to go down in that thing, are you?

Well, evidently, there’s no other way. Your cheeks will be burning brighter than the guys’ overalls, lighting the way down the slope. You pull your hat a little lower.

Before you even reach the bottom where the ambulance is waiting, another question pops into your mind: Does your health insurance cover this? How much is it going to cost? Just how much does a Swiss hospital charge to adjust a broken bone?

You swallow. Atop the pain, this question really makes your heart race.

Unfortunately, your health insurance plan might not cover you while you are abroad. And even if it does provide basic coverage for hospital or emergency costs, it might not cover your medical evacuation back to the United States.

If you are planning a trip abroad, you should call your health care provider to confirm whether or not your coverage extends to your destination.

Be sure to ask whether the policy covers medical payments abroad, includes high-risk activities that you might want to pursue (such as skiing, scuba-diving, paragliding or mountain-climbing), and whether they pay foreign doctors and hospitals directly (or if the foreign service provider will charge your credit card first).

Even if you travel within the United States, you might be surprised to find that you are not covered when traveling out of state, or even outside your coverage area in your home state! Wherever you go, be sure to contact your health insurance company before you take off, and set yourself and your family up with the right coverage.

Depending on the rules and restrictions of your individual plan, it may be wise to invest in a medical travel insurance policy that covers you for the extent of your trip.

There are a variety of very affordable medical travel insurance plans available that may return your investment in added peace of mind as you explore new corners. For a major trip, you also have the option to purchase a travel insurance package that includes medical coverage, trip cancellation or interruption coverage, lost or stolen baggage coverage, or even accidental death coverage, among others.

This is your well-deserved vacation. Time to enjoy, relax, and re-charge. Don’t let life’s curve-balls interfere with it.

Teen Will Drive Soon

It seems like a “right of passage” from childhood into becoming an adult. Your little boy or girl turns 17 and MUST have a car because everyone in school has one. Teens crave the freedom away from Mom and Dad, acceptance by their peers and the ability to show off (with the right vehicle of course!).

Teen Driving Statistics

Motor vehicle crashes are the leading cause of teen death in the United States. An average of 6,000 teens die and another 300,000 are injured annually across the nation. Teens crash for many reasons, but the most common are overconfidence, speeding, impaired driving, distraction and inexperience. In addition, seat belt use among teens is the lowest of any age group on the road.

In the United States, teens (17 to 20 years of age) are invovled in 15% of crashes, and in some localized areas that percentage is even higher! Recent statistics show that motor vechicle crashes are now the #1 killer of teens in America, and while crashes account for only 2% of all deaths nationwide, they account for a surprising 70% of teen injury deaths. Speed, distraction, fatigue and inexperience, coupled with a lack of seat belt use, are all prevalent factors in these fatal crashes.

Driver Education

In fact, because of the high death toll involved with teen driving, many states have already enacting Graduated Driver Licensing (GDL) laws.

Graduated Driver Licensing introduces teenage drivers to the road in stages, over an extended period of time and in an environment that minimizes risk. First is the Permit Phase where the teen practices with supervision. Next is the Provisional or Probationary Phase where the teen is allowed independent driving with restrictions. Only after successfully completing both phases will the teen be granted full driving privileges. As your teen learns this new and important skill, practice is very important. As a parent or guardian of a new driver, spend as much time as possible helping and teaching your teen good driving habits.

Many states have restrictive laws that go along with having a GDL license, such as:

These laws may vary a bit by state but are now becoming extremely common. In most states with GDL laws, your child must complete at least 6 months of driving, and be at least 16 years of age, before they can apply for a standard driver’s license with no restrictions.

Minnesota Fraud Laws and Auto Insurance

Insurance statistics show that since the youthful driver is significantly more likely to have an accident than a typical adult driver, so there will be a higher premium charged when the youthful driver is added to the parents policy.

There is a temptation then to “forget” to add the new driver to the auto policy or not list the new driver on your renewal questionnaire in order to save money even though the child is driving Mom or Dad’s car. We caution you against this practice. The State of Minnesota has certain fraud laws in this area that will allow an insurance company to deny a claim in the event the driver is an undisclosed household operator. In addition, the Attorney General has the ability to fine the policy holder in the range of thousands of dollars.

Insurance-Friendly Cars For Teens

The decision is made. You want to buy your son or daughter their first car. It will be in your name and properly added to your policy. But what to buy? You know it’s not only the car model you have to consider. You also have to think about the impact the car will have on your auto insurance.

Insurance companies surcharge youthful operators in three areas:

If you choose a vehicle that may be older, and does not require comprehensive or collision (a lower value vehicle) the premium will be considerably less than a newer one which will require full coverage.

Let us assist you in making a good choice for your teen. Contact Insurance Brokers of MN and one of our agents can help you make the right decision when buying that first car for your teenager.

Here you are, counting down the last days before you retire, after what seems like a lifetime of work, “climbing the ladder”, and investing into your IRA or 401(k). Congratulations!

Retiring is certainly one of the bigger milestones in life. And likely, excitement mixes with anxiety and apprehension. Is there going to be enough money? What are you going to do with all the new-found time? Among the many formalities that come with retiring, your insurance might not be the first thing on your mind. After all, the time to set up your insurance is usually long before retirement…

Still, as you take the plunge into retirement, give your personal protection plan a quick review: Adapting your personal insurance to your new status as a retiree may not only save you money, but will also set you up for the future.

What does retirement have to do with my auto insurance?

This is the time of life you’ve been waiting for! No more work. No more stress. No more clock-punching. And no more commute! (This might actually be the biggest perk!) The mornings and afternoons spent stuck in traffic, adding unnecessary hours to your work day and driving your blood pressure high and higher, are finally over. Not to mention: The outrageous expenses on gas and car maintenance, which you can now save.

Unfortunately, you completely forgot another aspect that might save you even more money: Your auto insurance!

If you recently retired (or if your driving habits have significantly changed otherwise) give us a call so we can adjust your auto policy to match your new lifestyle. You can actually ‘lose’ quite a bit of money in higher payments if you retire and don’t call your insurance agent. Here’s what to look out for:

If you no longer commute, you’ll likely drive significantly less than you used to, now that you’re retired. Less mileage means less time on the road and, in insurance terms, less exposure to risk. If the usage of your car drops from a 50 mile per day / five-day per week commute to ‘pleasure use’, you can reap big savings on your auto policy!

Another way to save is to complete a Defensive Driver Class. You actually don’t have to be retired to benefit from this. Anyone 55 years young can take a class and save money on their auto insurance. These classes are offered by AARP as well as other providers in the area for a small fee.

Adjust your deductible.The higher deductible, the lower your monthly insurance payments. It may pay for you to increase your deductible. (Your deductible is the amount of money you pay after an accident, before the money from the insurance kicks in.)

If you have an older car or a car that you barely use, but hesitate to sell, give us a call. We can help you evaluate the situation and make a recommendation on how to save insurance dollars while still providing you with adequate protection. Please be sure to give us a call before you decide to drop any coverage.

As you re-evaluate your auto insurance during retirement, please be very careful to keep adequate liability limits on your policy. The last thing that you want to happen is to be considered “at-fault” in an accident and be held responsible for a sum of money that exceeds your policy limits. Don’t jeopardize your retirement funds and don’t risk having to return to work!

We can help you set up a high-value insurance plan that makes the most of your insurance dollars and provides you with adequate protection and peace of mind during your sunset years. You deserve to enjoy them worry-free! Give us a call today 1-877-323-3314 for a free policy review.

Retirement and homeowner’s insurance.

Your very last mortgage payment is coming up…and then the house will be yours! What an accomplishment! Now you are a truly a homeowner.

The question is, now that you no longer have to report to the mortgage company (who requires you to carry homeowner’s insurance), should you still continue your homeowner’s policy?

Our answer: Absolutely!

It is very important that you continue to carry homeowner’s insurance on your home.

It is true that a lender requires you to have homeowner’s insurance, and that requirement does no longer apply when your mortgage is paid off. But unless you can easily afford to pay out of pocket for losses or even rebuild your home after a total loss, you should never consider dropping your homeowner’s insurance.

In addition, it is important to regularly review your homeowner’s policy to ensure that the value of your home, rebuilding cost, and value of your personal property are still adequately reflected. Call us 1-877-323-3314 anytime for a policy review. We are happy to help you with this (And if your policy hasn’t been reviewed since you signed the mortgage documents, it is high time to schedule an appointment with us!).

I’m a “snowbird” – how do I need to set up my insurance?

Rain, wind, and snow? Ha! No longer for you! Since you retired, you not only successfully escaped the 9-to-5 grind, but also the weather! Six months are spent in the mild summers of the Northeast, surrounded by family…and as soon as the dreariness begins, you board your car, RV, or plane, and escape to sunnier places like California for the winter months. Or maybe a road trip!

Yes, there’s a name for the folks who enjoy this lifestyle: Snowbirds!

The only question is: What happens to your house, car, and other property that’s here while you’re there?And, what happens with what is there while you’re here?

We can help you with that. Just give us a call, and we’ll help to coordinate the Here and There and Where and What for you, when it comes to your protection plan.

Unfortunately, things tend to get a little complicated when it comes to insurance plans that cross state borders. To make it a little easier, let’s split this question up into various insurance scenarios:

Homeowner’s Insurance

Let’s assume that you own a home in Minnesota State and would like to purchase a second home in California. That may trigger a variety of questions: Where is your primary residence? In which state should you get insurance?

Your primary residence is the residence that you spend most of the year in. Let’s assume, in this example, that this is the Minnesota home. It needs to be insured in Minnesota by a company and agent that are licensed in Minnesota (We can help you with that!).

If you purchase a second home in California, it needs to be insured in California (through a company or an agent who is licensed in California). If you are looking to find an agent outside of Minnesota, please give us a call. We can recommend insurance agents in all 50 states. We are happy to help!

Auto Insurance

Let’s continue to use our example of Minnesota and California.

If you own one or more car(s) at your primary residence in Minnesota, they need to be insured in the state of registration. That is usually the state of your primary residence (In our example – Minnesota).

If you own cars that you are absolutely sure won’t be driven in your absence, you have the option to pare down the insurance in order to save money. Give us a call – we can provide you with recommendations and price quotes.

Be sure to keep adequate insurance on the car that you intend to drive and on any car that might be driven (for example, by your son or daughter who watches the house)! If an uninsured car ends up being driven and the driver causes an accident, you will be held financially responsible no matter who drove the car!

If you drive your car from Minnesota to California and use it there for the months you spend “snowbirding”, your Minnesota auto insurance policy will extend while you are away. But, as always, give us a call if you plan on spending an extended amount of time out of state so we can make the necessary adjustments to your policy and ensure that it meets the other state’s minimum insurance requirements.

If you purchase a car in California and intend to leave it parked at your secondary residence while you are back in Minnesota, you need to obtain registration and insurance for this car in California. We can help you find a local agent.

Umbrella Insurance

If you carry umbrella insurance in your home state, the policy will extend to cover the underlying policies no matter where you are. However, it will not apply for homes and cars purchased, registered and insured out-of-state.

Health Insurance

Whenever you leave home, be sure to contact your health insurance provider to ensure coverage at your destination.

Do I still need life insurance after I retire?

You just retired a few months ago and are sitting with your coffee on a rainy Wednesday morning reading the newspaper when your spouse comes in with the mail. There’s a letter from your Life Insurance Company. Your 30-year term policy is about to expire. If you’d like to renew, you have to re-apply for a new term.

Hm. You wonder…The mortgage is paid off. One of the kids is out of college. The other one will graduate in a couple of years…

There aren’t really any major expenses that your wife would face if you passed… except, of course, the cost of living, since her retirement funds are a little more meager than yours. Would she need the extra money if something happened to you? Would the kids need it?

There. You thought you had considered everything…But now you wonder: Do I still need life insurance after I retire?

You are not alone! Thousands of people are facing this question every year: “My term life insurance expired. Should I renew it?”

Unfortunately, the answer is not easy and depends on you and your family’s individual status. Sit down and answer the following questions:

When you answer these questions, you’ll have a better idea whether you still need life insurance during your retirement years.

Keep in mind that life insurance rates increase with age. If you had a term life insurance policy and find that you need to continue your life insurance during retirement, you will likely have to renew your policy. That requires you to re-apply and complete another medical examination. Unfortunately, we have to warn you: Be prepared for your life insurance rates to soar if you renew your policy at this stage in life.

You can save money on your life-insurance renewal by purchasing the minimum amount of coverage for as short a term as possible.

None of this applies to you if you have whole life insurance. Permanent, or whole life insurance remains active until you pass away.

A word of caution: We don’t recommend treating a life insurance policy as a savings plan for your beneficiaries. Consider a meeting with a financial planner for ways to optimize the investment of your money.

Please don’t hesitate to give us a call if you’d like to have more information about life insurance options at this stage in your life. We’d be happy to assist you!

Retirement and Long-Term Care Insurance

When you dreamed about the sunset years, you always saw yourself as a spunky, energetic retiree who climbed Mt. Kilimanjaro in her seventies, took the great-grandkids to the water park in her eighties, and passed away peacefully in her late nineties by means of falling off an apple tree while harvesting apples.

All that, of course, with no sign of major health issue or body parts refusing service.

But, unfortunately, you have to admit to yourself that this might not be the most realistic scenario.

It’s a fact that more and more retirees move to an assisted living community or to a nursing home. So, in order to plan your retirement and get your affairs in order, you consider long term care insurance. But, where to start?

As with everything that’s related to retirement, it helps to start planning early. There are various different types of long-term care, ranging from hourly in-home health care help to full-time nursing home care. And the price tag varies just as greatly, ranging from $8,000 per year to a hefty $75,000 per year for full-time nursing home care in some places.

Who is going to pay for that?

Unfortunately, long-term care is not covered by health insurance. You are responsible to pay the expenses for assisted living or a nursing home out of pocket. This is where long-term care insurance comes into play. It can protect your assets, your savings and your inheritance.

The earlier in life you start planning, the lower are the rates you pay. Consider this: If you purchase long-term care insurance in your seventies, you might likely pay monthly rates that are six times higher than if you had purchased it in your fifties!

The question is, are you really going to need long-term care insurance? Consider chronic diseases and family history. If you rely on family members, don’t just assume. Talk with them.

If you have sufficient funds and investable assets to carry the cost of long-term care yourself, you may opt to self-insure rather than investing in a long-term care insurance plan. To determine your individual financial situation, get advice from a financial planner and obtain quotes from a variety of long-term care insurance providers several years before you retire.

As you consider long-term care insurance, it also plays a role whether you are single or married. If you are single and can, for example, sell your house to finance the living expenses in a nursing home, you may have sufficient funds. But if you are married, you may find that only one spouse needs the care of a nursing facility while the other stays at home. In that scenario, you can expect your living expenses to double in order to accommodate both spouses’ needs.

This topic does not lend itself to an easy answer. But with a little research and planning ahead of time, you can start your well-deserved retirement with peace of mind. Contact Insurance Brokers of MN today 1-877-323-3314 and let us help you to answer your important questions and arrange the best possible insurance options for you.

Just got pre-approved for a home loan? Congratulations! That’s a huge step in life – and it takes you so much closer to living the American Dream! Finding and buying a new home is as exciting as it is stressful: The purchase of a home is a huge undertaking that requires a good deal of forethought and research. But once the fun part of finding your dream home begins, you’ll find yourself spending evenings and weekends driving about town with your real-estate agent, and wandering through what might become your home. And at night, you dream about paint colors and furniture arrangements…

When you find it, you know it. And then everything happens quite fast: Your agent might help you sign the paperwork, you put in an offer, and then you wait, chewing nails, to hear back whether it was accepted. “Hurry-up and Wait” is probably a good way to describe it.

Insurance may not be your first thought when you start thinking about buying a house. But don’t let it be your last! Call your team at Insurance Brokers of MN early-on to avoid unpleasant surprises and save money. We can help you make this process as smooth and stress-free as possible. Simply follow this short checklist of house-buying tips that you should be aware of, from an insurance point of view:

Choose your own insurance

Your offer was accepted and now the real paperwork begins. Who would have thought that would be so many documents to produce, papers to sign, and questions to answer? When your broker assures you that she can take care of the rest, it’s easy to agree.

It’s a couple of months after you’re moved in that you have the peace of mind to take a closer look at the papers…and discover that your homeowner’s insurance rates are high. Very high! To say the least.

Just like property taxes have become commonly rolled into an escrow account and made part of a mortgage payment, so have homeowner’s insurance payments. Every lender requires that you have homeowner’s insurance in place. But that doesn’t mean that your mortgage company has to determine your insurance!

We can help you find the right protection at the best rate for your new home. All you have to do is get us involved early. Follow this short checklist, and with your permission, we can process everything so much faster when the closing date comes. Keep in mind that deadlines are always tight in the mortgage business.

How far is the nearest fire station?

You’ve always dreamed about a house in the woods. Kind of out there, away from all the hustle and bustle. And you found it, the perfect home, on a perfect 5-acre lot, not too far away…but far enough.

However, as you receive your homeowners insurance statement, you swallow hard. The house isn’t that big…actually, it’s about the same square footage as your previous house in the suburbs. So why did the rate increase?

The distance of the nearest fire station has an impact on your homeowner’s insurance rates. The further away the nearest fire station is located, the higher the rate. This makes sense, in a way: If, heaven forbid, you ever had a fire, every second counts. With no fire department nearby, the risk for a major or total loss of your home is much higher. And insurance companies charge for higher risk.

Just a piece of information to be aware of as you search for your dream home. For detailed rate quotes and more information about potential insurance rates for a house you’re looking at, just give us a call. We are here for you!

Don’t get bounced by a trampoline (or pool).

Now this house is really great! Not only does it come with a big yard and a swing set, but it also comes with a trampoline! Or maybe it’s a pool! The kids would love it! Unfortunately, the backyard isn’t fenced, but…well…a fence could be added later, plus the row of trees provides some privacy.

This doesn’t sound bad at all, does it?

Unfortunately, from an insurance standpoint, it does. There are an estimated 3 million trampolines in US backyards, and injuries caused by trampolines are steadily on the rise, averaging over 240,000 medically treated injuries every year. Over 180,000 involve children aged 14 and younger. Severe spinal cord and head injuries abound.

That’s why it is very difficult to find insurance for a trampoline. If the trampoline is located on your property and somebody – invited or not – gets injured while using it, you will be held responsible for the damages. That may mean many years of medical payments, or worse.

A trampoline is considered an “attractive nuisance”. Most insurance carriers have recognized the dangerous risk exposure that comes with a trampoline. Some carriers will not write a homeowner’s insurance policy for a home with a trampoline. Others may write it only if the trampoline is inside a 6-foot fenced area with a self-locking gate. Swimming pools are also considered “attractive nuisances” and are treated similarly.

Part of a Homeowner’s Association? Check your association’s Master policy.
Living in a homeowner’s association can have its pros and its cons. But fact is that more and more condo, town-home, and other communities are bound together by a Homeowner’s Association. For each homeowner, that usually means an annual fee.

What does the homeowner’s association have to do with your insurance? Quite a bit, actually: From an insurance standpoint, if anybody got insured on the association’s joint property, such as, for example, a walkway or a playground, the association would be held liable. That’s why each homeowner’s association has a Master policy in place. The question is: What does the Master policy cover?

Some Master policies don’t provide high enough protection, so if a loss occurs that exceeds the policy limits, each homeowner in the association will share an equal part in the liability. In that case, you may be required to pay a share of hundreds or even thousands of dollars.

If you don’t have the right protection on your homeowner’s insurance, that money would need to come out of your pocket. Luckily, your homeowner’s insurance can be adjusted to provide you with adequate protection.

We can help you with that (and we can also help in checking your association’s Master policy). Give us a call 1-877-323-3314.

Located in a flood zone? You might need flood insurance.

Isn’t the sound of water one of the most soothing? Whether it’s rainwater drumming on your window, waves crashing on the beach, or a stream babbling away…Not to mention the view! To look out the window and see these sights is priceless.

A house near a river or the beach is a dream for many. But if that dream home is located in a flood zone, your lender may require you to have flood insurance in addition to your standard homeowner’s insurance policy.

Get a quote from us. We specialize in all your personal insurance needs and can help you with your flood insurance. Because sometimes, when it rains, it pours.

(PS: That said, with the weather patterns in recent years, Flood Insurance might be a smart idea, even if you live nowhere near a flood zone. Because certain water-related losses are excluded on a standard homeowner’s policy. Talk to us to learn more.)

Spring is here – and for you, that means the bike is coming out of the garage. As the days get longer, and the sunshine more reliable, there’s nothing like the winding roads of the foothills, the small highways along the coast, or the country roads across the flats, enjoyed on two wheels with the wind in your face. You can’t wait to trade your stuffy car for the freedom of your motorcycle.

Yeah, you get a bit clunky after four, five months in a car seat instead of in the saddle, but after a couple of road trips, everything falls back into place.

You are a safe rider. You wear your helmet. Leather gear, even in 90 degree weather. You took your Motorcycle Safety course. Granted, that was a few years ago… Should probably renew that one.

Then, there is the insurance. That’s the one… Motorcycle insurance. Who has the money to buy insurance that isn’t even required by law? Who wants to buy insurance with any extra money?

If you own a Motorcycle, it’s important to have the right insurance. To protect yourself. So before you get ready to chase the wind, give us at Insurance Brokers of MN a ring 1-877-323-3314. We can provide you with quotes, policy advice, and answers to questions like these:

Is my motorcycle covered under my auto insurance?

You have your driver’s license, and just passed your motorcycle license. Finally! You are more than ready to ride with your buddies. Your uncle gave you his old bike, and in many, many hours, you fixed her up and restored her. Now it’s time to take her out.

You never thought much about insurance. In fact, you simply assumed that it’s a motorized vehicle, and therefore covered by your car insurance. Car insurance covers motorized vehicles. Or something… Whatever. It’s motorized, and so your car insurance should cover it. Right?

No! Wrong! Don’t make the mistake to assume that your car insurance will cover your motorcycle, or provide liability coverage if you hurt somebody or damage somebody’s property. Your car insurance will absolutely not extend to your motorcycle. Also, it will not apply for you, if you cause injury or damage while riding your motorcycle.

Your car insurance and your motorcycle are completely separate, and will absolutely not apply for each other.

Don’t make the crucial mistake to assume that your auto policy might protect you. It won’t.

That said, some states offer so-called “Motorcycle Endorsements” that can be added to your auto policy. But beware: These endorsements are usually by far not as comprehensive as a stand-alone motorcycle policy, and they often come with a variety of exclusions in the fine print.

If you own a motorcycle, we strongly recommend that you get a stand-alone motorcycle insurance policy. Give us a call. We can help.